The Disruptive Technologies Innovation Fund (DTIF) is a €500 million fund established under Project Ireland 2040 and forms a key part in the delivery of the Pillar 1 goal of Future Jobs Ireland to embrace innovation and technological change.
In December 2018, 27 collaborative projects were approved for funding under the first call of the DTIF. The DTIF will see investment in the research, development and deployment of disruptive technologies and applications on a commercial basis. The successful projects represent the health, food, ICT and manufacturing sectors in Ireland.
There are 104 organisations involved across the 27 projects that will receive funding and these include large enterprises, SMEs, colleges and public research bodies. Several colleges and public research bodies are involved in multiple projects. There are 18 successful projects involving partners based outside Dublin and they are located country-wide in Limerick, Cork, Galway, Kildare, Monaghan, Waterford, Louth and Tipperary.
As indicated in December 2018, the 27 projects involve a request for DTIF funding of approximately €75 million of which €20 million is due to be drawn down during 2019. The DTIF is being administered by Enterprise Ireland on behalf of my Department.
Contracts are now being finalised by Enterprise Ireland in respect of each of the 27 projects and grant drawdown will commence shortly. With this Fund, as with typical grant funding programmes, most recipients will have to incur up to six months of costs before grant payments will issue. A proportion of the funding can be provided in advance to the higher education institutions involved in the projects and, in certain circumstances, to small firms below 50 employees.
By September 2019, the first payments under DTIF Call 1 will have been made and we will be in a position to provide information by county at that point. I expect that it will be late in 2019 before we can report on the full 2019 drawdown of DTIF funding.
Pending this, the details of each of the successful projects including the partners involved in each, a brief description of each project and the value of funding approved is available on my Department’s website.
Together with my colleagues, Paschal Donohoe, TD, Minister for Finance and Public Expenditure & Reform and Patrick O'Donovan, TD, Minister of State for Finance and Public Expenditure & Reform, my Department launched the 2nd call of the Disruptive Technologies Innovation Fund at an event in the University of Limerick on Friday 5 July. Over 300 delegates registered for the event, which included an information session on the Fund and a networking session for potential applicants. Details of the Fund are available at www.dbei.gov.ie/dtif. The closing date for applications under Call 2 of the DTIF is Wednesday 18 September at 15.00.